It could become the latest to fall.
Over 1,200 jobs are at risk as a UK high street giant is set to enter administration after recent struggles.
These days it seems like each week brings the collapse of another high street chain, with a number falling into administration in recent months.
Poundland, River Island, Claire’s, and a number of travel agents have flirted with administration, been forced to restructure, or disappeared completely from the high street.
The latest to enter administration is the chain The Original Factory Shop (TOFS) which is expected to appoint Interpath to handle its insolvency, as reported by Sky News.
The chain was bought by Modella Capital last year and was already on the brink of collapse when it was acquired by the group.
Modella issued a notice of intention to appoint administrators last month as it searched for a buyer of the business.
TOFS opened its first shop in the late 1960s and has around 130 stores nationwide.
If the insolvency is confirmed, TOFS will become the second major retailer to collapse this week, with both being owned by Modella.
On Monday, Claire’s appointed Kroll as administrators to its UK and Irish operations, a move which will put around 1,300 jobs at risk.
The retailer’s financial issues are reported to have come from a “combination of government policy, landlords’ demands to take back many of TOFS’ better sites and a poorly handled transition to a new logistics provider”, as per Sky News.
Modella also owns the high-street operations of well-known chain WH Smith’s, which have been rebranded to TG Jones, as well as Hobbycraft.
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